If You Suffered Losses With Financial Advisor Gregory Whelan Contact the Law Firm of KlaymanToskes
Bank of America Corp. (NYSE:BAC)
PALM BEACH, FL, USA, August 13, 2024 /EINPresswire.com/ — National investment loss and securities lawyers KlaymanToskes issues an important notice to customers of former Merrill Lynch financial advisor Gregory Whelan (CRD# 5247677), after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”) alleging $2,000,000 in damages due to unsuitable investments and the use of personal email to engage in selling away. The law firm urges all customers who suffered investment losses with Gregory Whelan to contact the firm immediately at 888-997-9956.
KlaymanToskes reports that the firm is investigating financial advisor Gregory Whelan, who is currently employed with Merrill Lynch, a division of Bank of America (NYSE: BAC), in Fort Lauderdale, FL. The law firm has been contacted by a former customer of Whelan who alleges the representative engaged in private securities transactions/“selling away” of crypto investment offerings.
According to Whelan’s FINRA BrokerCheck report, a Merrill customer has filed a complaint alleging $2,000,000 in damages due to unsuitable investments, misrepresentations, and the use of personal email to engage in selling away. The complaint allegedly relates to investments in REITs, Private Securities, and Life Settlements.
Whelan was previously listed on Forbes’ America’s Top Next-Gen Wealth Advisors list in 2018. A second customer complaint previously filed against Whelan alleged unsuitable investment recommendations and was settled in favor of the customer for $100,000. The complaint allegedly related to Private Securities and a Cash Management Account.
Private securities transactions (also known as “selling away”) are considered a violation of securities law, as financial advisors can only sell approved investments through the brokerage firm where they hold their securities licenses, and are required to disclose “outside business activities” to their firms.
Financial advisors and their firms may be held liable for any losses incurred by their customers in the event of a representative “selling away” without the approval of the firm, misrepresentations or omissions of material facts, and/or unsuitable investment recommendations. Further, financial professionals and their firms cannot disregard a customer’s risk-tolerance when making investment recommendations.
Current and former customers of financial advisor Gregory Whelan who suffered investment losses are encouraged to contact attorney Steven D. Toskes at (888) 997-9956 or by email at [email protected] in furtherance of our investigation.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
Contact
Steven D. Toskes, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
[email protected]
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Originally published at https://www.einpresswire.com/article/735187433/important-notice-to-customers-of-financial-advisor-gregory-whelan-merrill-lynch